Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. cut its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 6.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 240,086 shares of the financial services provider’s stock after selling 15,573 shares during the period. iA Global Asset Management Inc.’s holdings in Intercontinental Exchange were worth $35,775,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its position in shares of Intercontinental Exchange by 1.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider’s stock worth $5,647,000 after buying an additional 366 shares during the period. Kestra Private Wealth Services LLC lifted its position in Intercontinental Exchange by 6.9% in the fourth quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider’s stock worth $11,022,000 after purchasing an additional 4,787 shares during the period. M&T Bank Corp lifted its position in Intercontinental Exchange by 33.2% in the third quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider’s stock worth $7,500,000 after purchasing an additional 11,648 shares during the period. Avantra Family Wealth Inc. acquired a new stake in Intercontinental Exchange in the fourth quarter worth approximately $702,000. Finally, Dixon Mitchell Investment Counsel Inc. lifted its position in Intercontinental Exchange by 9.2% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 728,133 shares of the financial services provider’s stock worth $108,515,000 after purchasing an additional 61,110 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ICE shares. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Barclays increased their price objective on Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods increased their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, UBS Group increased their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus target price of $178.80.

Insider Transactions at Intercontinental Exchange

In related news, SVP Douglas Foley sold 10,580 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $166.47, for a total value of $1,761,252.60. Following the completion of the sale, the senior vice president now directly owns 21,992 shares in the company, valued at approximately $3,661,008.24. This represents a 32.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Benjamin Jackson sold 7,900 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $171.43, for a total transaction of $1,354,297.00. Following the completion of the sale, the president now owns 147,274 shares of the company’s stock, valued at $25,247,181.82. This represents a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,563 shares of company stock valued at $10,998,990. 1.10% of the stock is owned by insiders.

Intercontinental Exchange Trading Up 0.4 %

NYSE ICE opened at $173.59 on Thursday. Intercontinental Exchange, Inc. has a 1-year low of $124.34 and a 1-year high of $175.41. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $99.74 billion, a PE ratio of 36.32, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08. The firm’s fifty day simple moving average is $163.08 and its 200-day simple moving average is $159.89.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. As a group, sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 40.17%.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.